NEW YORK, April 9, 2009 (GLOBE NEWSWIRE) -- PIMCO Income Opportunity Fund (the "Fund") (NYSE:PKO), a non-diversified, closed-end management investment company which seeks current income as a primary focus and also capital appreciation, today announced its results for the fiscal quarter ended January 31, 2009.
At January 31, 2009
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Net Assets $235,466,034
Shares Outstanding 14,163,719
Net Asset Value ("NAV") $16.62
Market Price $17.68
Premium to NAV 6.38%
Undistributed Net Investment Income Share (b) $0.1035
Quarter ended
January 31, 2009
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Net Investment Income (a) $6,241,688
Per Share (a) $0.44
Net Realized and Unrealized Loss (a) $(16,837,937)
Per Share (a) $(1.19)
(a) The information provided is in accordance with generally accepted
accounting principles ("GAAP"), which requires the Fund to treat
amounts accrued under swap agreements as net realized and
unrealized gain (loss). However, these amounts are treated as
net income (loss) for federal income tax purposes. By using
GAAP, Net Investment Income for the fiscal quarter ended January
31, 2009 was $576,058 ($0.04 per share) lower (and Net Realized
and Unrealized Loss correspondingly lower), than those figures
would have been if swap amounts were treated as net income (loss)
in accordance with federal income tax treatment.
(b) Note that generally there is a close correlation between what the
Fund earns (net of expenses) and what it pays in monthly
dividends. However, since net earning rates fluctuate from month
to month, there will be periods when the Fund may over-earn or
under-earn its monthly dividend which would have the effect of
adding to or subtracting from the Fund's undistributed net
investment income balance.Fund management analyzes the Fund's
current and projected net earnings rates prior to recommending
dividend amounts to the Fund's Board of Trustees for declaration.
There can be no assurance that the current dividend rate or the
undistributed net investment income balance will remain constant.
In accordance with federal income tax treatment, inclusive of
amounts accrued under swap agreements. Inclusive of net realized
gains from foreign currency transactions and pay-down gains of
$0.18 per share at January 31, 2009.
Allianz Global Investors Fund Management LLC, an indirect, wholly-owned subsidiary of Allianz Global Investors of America L.P., serves as the Fund's investment manager and is a member of Munich-based Allianz Group (NYSE:AZ). Pacific Investment Management Company LLC, an Allianz Global Investors Fund Management affiliate, serves as the Fund's sub-adviser.
The Fund's daily New York Stock Exchange closing price, net asset value per share, as well as other information, is available at http://www.allianzinvestors.com/closedendfunds or by calling the Fund's shareholder servicing agent at (800) 331-1710.
The financial information contained herein is solely based upon the data available at the time of publication of this press release, and there is no assurance that any future results will be the same or similar to what is reported herein. Information that was obtained from third party sources we believe to be reliable is not guaranteed as to its accuracy or completeness. This press release contains no recommendations to buy or sell any specific securities and should not be considered investment advice of any kind. Past performance is no guarantee of future results and the investment returns generated by the Fund will fluctuate. There can be no assurance that the Fund will meet its objective. In making any investment decision, individuals should utilize other information sources and the advice of their own professional adviser.